Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.88%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.26%
steady accumulation
Rally response
+9.76%
adds into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KRMNKarman Holdings Inc. | $156M | 52.7% | — | 0.5 yr |
| USARUSA Rare Earth Inc | $73M | 24.8% | — | 0.3 yr |
| LUNRIntuitive Machines, Inc. | $60M | 20.3% | +197.0% | 1.8 yr |
| DNUTKrispy Kreme, Inc. | $7M | 2.3% | -77.3% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Aerospace & Defense73.0%+63.3pp$217M
Industrial Materials24.8%$73M
Grocery Stores2.3%-68.0pp$7M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| DNUT | $31M | -0.02B | -77.3% |
Top buys this quarter · 1
| USAR USA Rare Earth Incnew | +$74M |
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $297M | 4 | -14.65% | +8.37% | -23.02% | +0.07B |
| 2025-12-31 | $204M | 3 | -14.85% | +25.10% | -39.95% | +0.18B |
| 2024-09-30 | $28M | 3 | +6.68% | +36.04% | -29.36% | -0.00B |
| 2024-06-30 | $26M | 3 | -13.76% | +24.49% | -38.25% | -0.01B |
| 2024-03-31 | $44M | 4 | +11.42% | +29.62% | -18.21% | +0.00B |
| 2023-12-31 | $36M | 3 | +33.15% | +26.18% | +6.97% | -0.00B |
| 2023-09-30 | $35M | 3 | +6.53% | +21.57% | -15.03% | -0.09B |
| 2023-06-30 | $133M | 6 | -1.36% | +19.42% | -20.78% | +0.04B |
| 2023-03-31 | $102M | 7 | -7.42% | -7.82% | +0.40% | -0.01B |
| 2022-12-31 | $84M | 5 | -6.69% | +7.56% | -14.25% | +0.01B |
| 2022-09-30 | $76M | 5 | -14.78% | -4.93% | -9.85% | +0.01B |
| 2022-06-30 | $82M | 5 | -12.71% | -16.11% | +3.40% | -0.03B |
| 2022-03-31 | $132M | 6 | — | — | — | -0.11B |
| 2021-12-31 | $246M | 5 | — | — | — | — |